Hey, lots of good information and reasoned opinion in this thread.
I'l add that
your tool kit needs to match
your bike (and any bike along you might have responsibility for). Mentioned upthread is a difference between tubeless and tube kits. So, y
our bike might not require some tools.
Your bike might require special tools. My commuter bike is fitted with a couple of security Torx™️ fasteners, so that bike's kit includes the appropriate security star bit. A couple of the bikes have 4.5mm hex fittings (!). The older bikes mostly have external hex nut fittings - a multi-tool full of allen keys won't be much help. My main ride these days is a Dahon Curl - great little machine! But, and it's a big but, rear flats can be 'involved'. Getting the 16" Schwalbe Marathon Plus off and back on the Sun CR18 ISO349 rim is a %#&@%. In addition to a fairly normal on-road kit, I carry three Pedros, a Crank Brothers Speedier and a Koolstop tire jack. Yeah, now the tire's my %#&@%.
Since my Curl pretty much has to operate with an exact count of chain links, I carry a short length of chain in the event I have the rare issue with a link or two.
BTW, you might want to carry tools for your bike even if your repair skills aren't up to the task - bicycle repairman might happen along.
https://www.dailymotion.com/video/x2howud